In a field experiment, the effect of drought stress on yield and yield components of three wheat genotypes was investigated during 2013-2014 in Parsabad, Iran. It was performed in a split plot expriment based on randomized complete block design with three replications. The experimental factors consisted of irrigation regimes at five levels which considered as main factor and genotypes at three levels (Shirodi, Chamran and line N-80-18) as sub factor. Results revealed that the effects of irrigation regimes were significant on seed yield, plant dry weight, plant height, leaf area index, number of spike per m2, number of seeds per spike, 1000 seeds weight and seed protein content. The effect of genotype on all of the traits under study was significant. The effects genotype × irrigation regime interaction were also significant on seed yield, dry plant weight and number of seeds per spike. Under optimal irrigation, seed yield of Shirodi and Chamran cultivars and line N-80-18 were 4661.7, 4200 and 4402 kg ha-1, respectively. Moisture stress significantly reduced seed yield and yield components. Deficit irrigation increased seed protein content of the genotypes under study. Chamran cultivar produced highest seed yield under drought stress and in rainfed conditions, while its grain yield was reduced by 26% as compared with that of optimal irrigation condition. Based on the stability of yield of this cultivar in the all of irrigation regimes, under water limited condition, it can be considered suitable for this region.